Add Banking Information

Step 1 of 3

Enter Banking Information

Purpose of Step

This is the first step in the process of adding banking information for a Recipient The organization that is entitled to the funds. Organization. On this step you will enter the attributes of the bank account and make it available to the Federal agency Encompasses Federal Program Agencies including programs administration and funding. They are organizations that establish funds into ASAP accounts. .

Actions for this Step

1.      Enter banking account information in the required fields:

• Enter the ABA/RTN number.

• Enter the Bank Account Number The bank account number is the Recipient Organization's unique number for the checking or savings account into which the payments are to be deposited. .

• Enter the Bank Account Title.

1. Select the Bank Account Type An account type must be one of the following: Regular, Control, Global, Global Control, or 1031 (ASAP LOC).
   1. Choices for Bank Account Type are Checking and Savings.

2.      Select the Payment Method The method specified by the payment requestor that is to be used for delivery of the payment. Automated Clearing House (next day settlement) or Fedwire (same day settlement). .

•   Choices for Payment Method include ACH, Fedwire FRB central application for same day electronic funds transfer. , and ACH/Fedwire.

3.      Enter the Financial Institution Official name and telephone number

4.      Enter an optional ABA Number The American Banker's Association/Routing and Transit Number is the unique identifier for a financial institution. for further credit.

• The option to designate a secondary bank account is available for Fedwire payments.

5.      Click the ALC (s) for the Recipient Organization for which you are adding the banking information.

6.      Click Continue .

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